Ferroglobe (NASDAQ:GSM) Upgraded by Zacks Research to Hold Rating

Zacks Research upgraded shares of Ferroglobe (NASDAQ:GSM) from a strong sell rating to a hold rating in a research note released on Monday,Zacks.com reports.

A number of other research firms have also commented on GSM. Weiss Ratings restated a “sell (d)” rating on shares of Ferroglobe in a research note on Wednesday, October 8th. Wall Street Zen cut Ferroglobe from a “hold” rating to a “sell” rating in a research report on Sunday, November 16th. Finally, B. Riley decreased their price objective on Ferroglobe from $8.00 to $6.00 and set a “buy” rating for the company in a research report on Tuesday, November 11th. One investment analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $6.00.

Ferroglobe Stock Performance

NASDAQ GSM traded up $0.32 on Monday, reaching $5.29. The stock had a trading volume of 886,691 shares, compared to its average volume of 799,724. The stock has a market cap of $986.32 million, a P/E ratio of -7.14 and a beta of 1.08. Ferroglobe has a 12-month low of $2.97 and a 12-month high of $5.74. The business’s 50-day moving average price is $4.45 and its 200 day moving average price is $4.47. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.91 and a current ratio of 1.66.

Ferroglobe (NASDAQ:GSM) last announced its earnings results on Wednesday, November 5th. The basic materials company reported ($0.02) EPS for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.07). Ferroglobe had a negative net margin of 9.92% and a negative return on equity of 6.13%. The business had revenue of $311.70 million during the quarter, compared to analyst estimates of $393.80 million. As a group, equities analysts expect that Ferroglobe will post 0.33 earnings per share for the current year.

Ferroglobe Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, December 29th. Stockholders of record on Monday, December 22nd were issued a $0.014 dividend. The ex-dividend date of this dividend was Monday, December 22nd. This represents a $0.06 annualized dividend and a dividend yield of 1.1%. Ferroglobe’s payout ratio is -6.76%.

Institutional Investors Weigh In On Ferroglobe

Institutional investors and hedge funds have recently bought and sold shares of the business. California State Teachers Retirement System acquired a new position in Ferroglobe in the second quarter valued at approximately $27,000. State of Alaska Department of Revenue bought a new stake in shares of Ferroglobe in the 3rd quarter worth approximately $32,000. BNP Paribas Financial Markets boosted its position in Ferroglobe by 1,017,300.0% during the 2nd quarter. BNP Paribas Financial Markets now owns 10,174 shares of the basic materials company’s stock valued at $37,000 after purchasing an additional 10,173 shares during the period. R Squared Ltd bought a new position in Ferroglobe during the 2nd quarter worth $38,000. Finally, Ameritas Investment Partners Inc. acquired a new stake in Ferroglobe in the second quarter worth $45,000. Institutional investors and hedge funds own 89.64% of the company’s stock.

Ferroglobe Company Profile

Ferroglobe PLC is a leading producer of specialty metals and alloys, serving a diverse range of industrial customers worldwide. The company’s core operations focus on the manufacture of silicon metal, silicon-based alloys, manganese-based alloys and rare earth alloys, which are essential inputs for the aluminum, steel, chemical and electronics industries. Ferroglobe’s product portfolio includes high-purity silicon, ferrosilicon, silicon manganese, manganese alloys and various recarburizers used to enhance metal strength, durability and conductivity.

With production facilities located across North America, Europe, South America and Africa, Ferroglobe maintains a global footprint that allows it to supply customers on multiple continents.